CKYC – Centralized KYC – an initiative of Govt Of India which will be administered by CERSAI – Central Registry Of Securitization Asset Rsconstruction And Security Interest Of India.
Central KYC Registry will be a centralized repository of KYC records of investors in the financial sector with uniform KYC norms allowing inter-usability of KYC records across the financial sector.
W.e.f. February 01, 2017, new mutual fund investor will need to comply with new CKYC procedure.
Mutual fund investors will be categorized as below:
- New investors who are not KYC compliant: Such investors will need to use new CKYC form or KYC KRA form along with additional supplementary CKYC form.Mutual fund companies may accept this supplementary form for limited period of time only.
- Existing KYC compliant mutual fund investor :For now, there are no new requirements to be fulfilled by existing KYC compliant investors.
- Existing CKYC compliant investors:No further KYC formalities are required.
The objective of CKYC is to allow investors to complete KYC formalities only once and make this information available across all the entities in the finance industry and not limited to securities.
CKYC compiled investors will be provided with 14 digit KYC identification (KIN) which confirms their KYC compliance.
Click here to download CKYC application form.
